Wynn Resorts Ignored Claims Of Steve Wynn Misconduct: Suit

Las Vegas-based casino operator Wynn Resorts has been hit with a shareholder suit claiming the company and its board of directors breached their fiduciary duties and exposed shareholders to damages by ignoring decades of allegations of sexual misconduct by founder and CEO Steve Wynn.

The derivative suit, filed Tuesday in Nevada state court by Massachusetts-based Norfolk County Retirement System on behalf of Wynn Resorts Ltd., is the first investor action against Wynn Resorts following claims first reported last month in the Wall Street Journal that Wynn...